Coinbase launches Canadian crypto futures with up to 10x leverage

Coinbase launched crypto derivatives trading in Canada through Coinbase Financial Markets. The offering includes 23 crypto perpetual and dated futures. It also includes five commodity futures and the Coinbase 50 Index. The contracts offer leverage of up to 10x and use nano-sized positions. The products are available to eligible Canadian customers. Eligible customers include those with at least $5 million in net financial assets. Registered investment advisers and dealers can also access the products. Coinbase Financial Markets is a futures commission merchant registered with the US Commodity Futures Trading Commission. It operates in Canada under foreign dealer and futures commission merchant exemptions. Coinbase said the offering is the first from a major crypto-native platform to provide direct native crypto futures in Canada. Webull expanded crypto trading to Canadian customers on Monday. Webull uses Coinbase's infrastructure for trading and custody. Webull cited rising adoption as one reason for the move. Crypto ownership in Canada reached 25% this year from 10% in 2023 according to Ontario Securities Commission research. Robinhood entered Canada in June through its $180 million acquisition of WonderFi. The acquisition gave Robinhood control of the Canadian exchanges Bitbuy and Coinsquare. The deal brought about 300,000 funded customers under Robinhood. The deal also included WonderFi's Canadian licenses and regulatory approvals. Ottawa proposed banning crypto ATMs in April over concerns about scams and money laundering. Lawmakers advanced legislation that would prohibit cryptocurrency donations to political parties and candidates.